Oneonta's Otelco buys telcom provider

Oneonta-based rural telephone provider Otelco Inc. said Thursday it will pay $101.3 million for Country Road Communications LLC, which provides advanced telecommunications services in Maine, Massachusetts and West Virginia.

Under the agreement, Otelco will get Country Road subsidiaries Pine Tree Holdings Inc., Granby Holdings Inc. and War Holdings Inc. The acquisition will add more than 23,000 rural voice and data access lines, 6,000 retail voice and data access lines, and 82,000 wholesale competitive local exchange carrier connections.

CEO Mike Weaver said the deal is an important step in Otelco's expansion plans."From a strategic perspective, the acquisition of Country Road adds attractive markets in New England and strengthens our existing operations in the region," he said.